MIRA
INFORM REPORT
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Report Date : |
21.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUMNANI TRADING
CORPORATION |
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Registered Office : |
809, 8th Floor, Hussain Trade
Centre, Altaf Hussain Road, Karachi |
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Country : |
Pakistan |
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Date of Incorporation : |
1999 |
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Legal Form : |
Partnership |
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Line of Business : |
Import and Trading of all type of
Commodities including Beans, Cheak Peas, Pulses, Spices, Grains, Seeds |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Business Name
SUMNANI TRADING
CORPORATION
Full Address
|
Registered
Address |
|
809, 8th Floor, Hussain Trade
Centre, Altaf Hussain Road, Karachi, Pakistan |
|
Tel |
92 (21) 2275741 - 43 |
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Fax |
92 (21) 2275776 |
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Email |
Short Description Of Business
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Nature of Business |
Import & Trading of all type of Commodities including Beans, Cheak
Peas, Pulses, Spices, Grains, Seeds |
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Year Established |
1999 |
Branches
2nd Floor, Al-Rehman Trade Centre,
New Challi, Karachi, Pakistan
Legal Status
Subject Company was established as a Partnership business in 1999
Details of Management
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Yasir Sumnani Mr. Kashif Raza |
Pakistani Pakistani |
809, 8th Floor, Hussain Trade Centre, Altaf Hussain Road,
Karachi 809, 8th Floor, Hussain Trade Centre, Altaf Hussain Road,
Karachi |
Business Business |
Managing Partner Partner |
Business Activities
Subject Company is engaged in the business as Import & Trading of all type of Commodities including Beans, Cheak Peas, Pulses, Spices, Grains, Seeds.
It purchases against D/A basis.
It sells against Credit terms.
It’s mainly import from India, Canada, Australia, Vietnam, Ukraine, Portugal
Its major customers are Traders, Food Companies, Individuals.
Subject operates from caption leased office premises of area measuring 560 Sq.ft. which is situated in commercial area.
Subject employs about 6 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
15,000,000/- (Estimated) |
Trade Suppliers (Foreign)
(1) SAINATH INTERNATIONAL (PVT) LIMITED, INDIA.
(2) MUSTAFA MALIK TRADING LLC, U.A.E.
Bankers
Bank Alhabib
Limited, Pakistan.
Askari Commercial
Bank Limited, Pakistan.
Faysal Bank Limited,
Pakistan.
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 64.40 |
|
UK Pound |
1 |
Rs. 128.75 |
|
Euro |
1 |
Rs. 101.90 |
Comments
Subject Company was established in 1999 and
is engaged in import & trading of
all type of commodities including Beans, Cheak Peas, Pulses, Spices, Grains,
Seeds. Market reputation is satisfactory. Trade relations are reported
as fair. Company can be considered for normal business dealings at usual trade
terms and conditions.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)